Art, Kevin Any donation to charity would be recorded if it is tax deductible against an expense account on one end of the transaction and against an asset or liability account on the other. If you use an income account then your expense is offset against that specific income and you get no nett tax benefit unless you made the income account non-taxable i.e. income not reportable for tax purposes, however the items donated are items you have already purchased so they are assets.
You could create an pooled asset account for MiscellaneousHousehold assets and give it some nominal value. E.g. If you have contents insurance on your house, that might serve as a nominal value. Assigning the nominal value could be an opening balance against equity. You could then increase the asset any time you made a purchase of capital goods for the household and use it as the target account for the other side of the donation transaction to decrease the pooled assets. It involves some tracking of assets but not on an individual basis. David Cousens ----- David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
